Cliff Lee Rejoins Philadelphia Phillies

Cliff Lee, the most prized free agent pitcher this offseason, reportedly signed a five-year deal with the Philadelphia Phillies valued at $100 million.
By Joseph Woelfel ,

PHILADELPHIA (

TheStreet

) -- Cliff Lee, the most prized free agent pitcher this offseason, stunned the New York Yankees and Texas Rangers by signing a five-year deal with the Philadelphia Phillies reportedly valued at $100 million.

The deal includes a sixth year with a vesting option bringing the total value of the deal to about $120 million, according to reports.

Lee, who pitched with Texas in the postseason this year, was coveted most highly by the Yankees, which had offered the pitcher a seven-year deal for about $150 million.

Lee returns to Philadelphia for which he spent part of 2009.

Lee called the Rangers to tell the team of his decision. Lee's agent, Darek Braunecker, reportedly called the Yankees,

MLB.com

reports.

"Cliff called me," Rangers general manager Jon Daniels said late Monday night,

MLB.com

reports. "He was very classy. He was very appreciative of the time he was here and how he was treated. He and his family enjoyed his time here. He also enjoyed his time in Philadelphia and liked some of the things that opportunity had to offer."

Terms of Lee's contract have yet to be finalized, according to reports.

-- Written by Joseph Woelfel

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